Nifty May F: 14933 [ 15085 / 14911 ]
NF opened around the yPOC of 15051 and made an attempt to probe higher but could only tag 15085 as it got rejected from just below yVWAP of 15093 confirming an ORR (Open Rejection Reverse) start for the day after which it went on to break below previous day’s low of 15035 and hit the weekly HVN of 14984 while making a low of 14978 in the ‘A’ period. The auction then began to coil but left an important PBH (Pull Back High) at 15045 in the ‘C’ period as the attempt to get back into yesterday’s range was rejected indicating that the PLR (Path of Least Resistance) for the day remained to the downside as it formed a ‘b’ shape profile for the day with completely lower Value in a move away from the 2-day composite and made a spike lower into the close as it tagged the Trend Day (17th May) VPOC of 14953 and below it the extension handle of 14919 closing in an imbalance. Spike Rules will be in play for the next open and the reference zone would be 14952 to 14911 below which NF could go for a test of the HVN of 14840 and the initiative buying singles of 14780 to 14744 whereas on the upside, today’s VWAP of 14988 & PBH of 15045 would be the immediate levels to watch for above which a probe to the composite VAL of 15099 & the VPOC of 15140 could open up.
- The NF Open was a Open Rejection Reverse – Down (ORR)
- The Day type was a Normal Variation Day – Down (‘b’ shape profile with a spike close)
- Largest volume was traded at 15007 F
- Vwap of the session was at 14988 with volumes of 75.8 L and range of 173 points as it made a High-Low of 15085-14911
- NF confirmed a FA at 14620 on 14/05 and tagged the 2 ATR objective of 14992 on 18/05.
- The settlement day Roll Over point (May) is 14925
- The VWAP & POC of Apr Series is 14576 & 14375 respectively.
- The VWAP & POC of Mar Series is 14816 & 14737 respectively.
- The VWAP & POC of Feb Series is 14893 & 15115 respectively.
- Value zones (volume profile) are at 14947-15007-15046
HVNs – 14606 / 14714* / 14896 / 14976
BankNifty May F: 33446 [ 33914 / 33387 ]
BNF made an OAIR (Open Auction In Range) start with one of the lowest opening volumes as it remained in previous Value forming a very narrow 239 point range IB (Initial Balance) and continued to coil in this range till the ‘G’ period before making a move lower as it gave multiple REs and left couple of extension handles at 33617 & 33550 spiking into the close as it not only tagged the Trend Day VPOC of 33545 but almost tested the extension handle of 33362 before closing the day at 33446. The dPOC for the day shifted lower to 33486 indicating that the initiative shorts could have booked out plus we also have a nice 2-day composite with Value at 33663-33801-33902 which would be the reference on the upside for the next session above the spike zone of 33550 to 33387 whereas on the downside, BNF would remain weak below 33362 for a test of the Trend Day VWAP of 33087 and the buying singles of 32927 to 32788.
- The BNF Open was a Open Auction In Range (OAIR)
- The Day type was a Normal Variation Day – Down (with a spike close)
- Largest volume was traded at 33486 F
- Vwap of the session was at 33646 with volumes of 29.5 L and range of 527 points as it made a High-Low of 33914-33387
- The settlement day Roll Over point (May) is 33765
- The VWAP & POC of Apr Series is 33260 & 32490 respectively.
- The VWAP & POC of Mar Series is 34618 & 33870 respectively.
- The VWAP & POC of Feb Series is 35530 & 35820 respectively.
- Value zones (volume profile) are at 33388-33486-33743
HVNs – 32615 / 32969*
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